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Elkem
M&A Activity • Mar 11, 2024
3589_rns_2024-03-11_d12b8533-08e8-4710-8749-385be5444157.pdf
M&A Activity
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Elkem focuses on core business, exits Vianode
Oslo, 11 March 2024
Elkem has decided to exit its financial investment in the advanced battery materials company Vianode.
This is in line with the previously announced comprehensive programme for earnings improvements and capex reductions in Elkem, and a focus on Elkem's core business.
Going forward, Vianode will continue to be backed by global aluminium and renewable energy company Hydro and Altor Fund V, a fund managed by Altor Fund Manager.
Through the highly skilled employees who have joined Vianode from Elkem since its founding in 2021, Vianode will continue to benefit from world-class competence in advanced battery materials.
The parties have agreed that the terms of this transaction shall not be disclosed.
This release contains inside information related to Elkem ASA pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This release is issued by Odd-Geir Lyngstad, VP Finance and Investor Relations, Elkem ASA. Date and time of publication: 12:35 CET, 11.03.2024.
For further information, please contact:
Odd-Geir Lyngstad VP Finance and Investor Relations Tel: +47 976 72 806 Email: [email protected]
Maria Ekornes Myhre Communication Manager Tel: +47 994 12 707 Email: [email protected]
About Elkem
Elkem is one of the world's leading providers of advanced silicon-based materials shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,400 people has a joint commitment to stakeholders: Delivering your potential. In 2023, Elkem achieved an operating income of NOK 35.5 billion and CDP ratings of A on Forests, and A- on Climate Change and Water Security. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where the company is also included in the ESG Index. www.elkem.com